We’re Responsible Adults, Really

We’re allegedly going to be receiving a tax credit from the government. Yes, I get that it’s a credit and will affect next year’s taxes. We’ll have to withhold extra each month to cover it because we’re both self employed right now and we withhold and pay quarterly taxes each year.

But the question is, what do we do with it?

I know a lot of people will be paying bills and staying afloat which is a huge help for them. This is what the intention behind the check is.

Our finances are… unusual? We’re paid on contract completion, and right now multiple contracts are coming in to completion, so we can pay bills for the foreseeable future.

I looked over our bills, and there aren’t any fires to put out.

I could save it, but we have debts we’re paying on, and we have an emergency fund already.

What we’ve decided to do is pay off the last bit of our credit card. We’ve been paying down heavily on debt, and if we can clear that card that will be one less bill.

Then we’ll only have student loans and mortgage debt left, plus what we owe our my in-laws and dad. We’re focusing on debts with high interest first.

I feel this is the most responsible use for the money.

What are your plans for your stimulus payment? What do you feel is the most help to you in your situation? Do you have a better idea for how we should spend ours? Inquiring minds want to know!